KEY NOT FOUND: coverImgAlt
Logo
See All Photos

loanDepot

Engaged Employer

loanDepot

Add a Review

loanDepot Reviews

Updated Nov 24, 2021

To filter reviews, or .

Found 1,507 of over 1,522 reviews

3.8
68%
Recommend to a Friend
83%
Approve of CEO
loanDepot Founder and CEO Anthony Hsieh
Anthony Hsieh
1,044 Ratings

The latest conversations about Finance

Join the conversation on

Finance

1y

works at 

JPMorgan Chase

Anyone else hate banking lingo and make fun of it, but as soon as a discussion starts you say "we dont want to boil the ocean here". Fml. Whats your most despised finance phrase?

871

87 Comments

Join the conversation on

Ratings by Demographics

This rating reflects the overall rating of loanDepot and is not affected by filters.

Want more demographic options?
  1. 5.0
    Current Employee, less than 1 year

    Amazing Team Environment & Training

    Sep 21, 2021 - Anonymous Employee in Scottsdale, AZ
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Started off not knowing much of anything about the industry and now 9 months in I can hold a few hour long conversations about mortgages and the industry. So with that being said loanDepot has an amazing training program that is basically never ending since there's always so much to learn. Leadership is always there for you. The team environment is encouraging and motivating. There is always room to grow with the company since we keep growing so rapidly every month and each year!

    Cons

    work and life home balance can be a juggle but over time you are able to figure it out. Staying organized is another struggle but that might be just me.

    Continue reading
    Be the first to find this review helpful
  2. 5.0
    Current Employee, more than 10 years

    Best mortgage company to process loans for

    Sep 1, 2021 - Senior Account Manager in Foothill Ranch, CA
    Recommend
    CEO Approval
    Business Outlook

    Pros

    I have been with loanDepot for over 11 years when it was less than 100 overall staff. I have been processing for loanDepot for 9 of those years. To keep this short, I know processors all over the industry. I have seen the landscapes change as people go seeking other opportunities at other companies and what I know is this. From a comp standpoint, no other companies pays their top processors as much as they do here. Processing executive management VPs, down to to the manager and assistant managers are all amazing and have tons of experience. Lastly, I work with my friends and I enjoy who I work with.

    Cons

    Over the years with the expansion of sales throughout the company there are some inexperience however in my personal experience, the attitude is great and the teamwork is great so what may lack in experience is made up for in attitude.

    Be the first to find this review helpful

    loanDepot Response

    loanDepot

    We are so happy to hear that your experience with loanDepot has been so positive. Thank you for your review!

  3. 5.0
    Current Employee

    Great company, great culture

    Sep 23, 2021 - Licensed Lending Officer in Scottsdale, AZ
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Values you as an individual and validates all skills that the diversity of employees bring to the table. You can have little to no mortgage experience and they take the time to put you through class and get you licensed which is a huge deal. Their commission structure is aggressive and the leadership actually cares. ACES is an incredible program for anyone that has the heart and the drive to work it. Come ready to learn, grind and help people in your community while helping yourself. This really is that place.

    Cons

    You have to commit to your future. Be honest with yourself, if you can't break the family structure and being available outside of the standard 9-5, this isn't for you.

    Be the first to find this review helpful

    loanDepot Response

    loanDepot

    Thank you for taking the time to share your review, we greatly appreciate it!

  4. 2.0
    Current Employee, more than 1 year

    Smoke and Mirrors

    Nov 9, 2021 - Mortgage Banker (MLO) 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Can make 10k per month

    Cons

    Do not care about turnover. Companies direction and individual unit goals change at the drop of a hat. Pushed by upper management to meet metrics that do not improve companies bottom line or yours. Working more hours is strongly encouraged but will not get you any more recognition or rewards than people who do the bare minimum. Communication by Directors is belittling and demoralizing.

    Continue reading
    1 person found this review helpful
  5. 1.0
    Current Employee, more than 5 years

    Working for a sweat shop

    Nov 16, 2021 - Mortgage Loan Processor in Phoenix, AZ
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Work remote, your peers really become your family.

    Cons

    Mostly no overtime, expected to work and review a crazy number of files with no overtime. Compared to other employers the base pay is significantly lower. There are no raises and most processors make more then their management because of bonuses.

    Continue reading
    2 people found this review helpful
  6. 2.0
    Current Employee, more than 1 year

    Great Money..... thats about it

    Jun 2, 2021 - Loan Officer in Foothill Ranch, CA
    Recommend
    CEO Approval
    Business Outlook

    Pros

    You will probably make more money than you have ever made in your life

    Cons

    -MICROMANAGED TIL YOU BREAK - Your life is no longer your own. You belong to LD. Youll have alot of PTO time built up but you arent allowed to use it. ( They will make up various excuses) - There are 5-6 who can screw up your work and cost you money and there is NOTHING you can do about it. -You will get "warm leads" that are not eligible for a loan or already have a ridiculous rate who dont actually want to refi but they were promised something by the CLR. And then you will get yelled at because you dont convert enough ( its an endless cylce) - They will tell you they want work life balance and that you only have to work a 9hr day, but your manager will do everything they can to stretch that out as far as possible to more like 12 hrs and then demand you come in EVERY Saturday. -You will never have time to work on files with issues as you are told to "only focus on front end". You are paid commission on fundings, so all those loans you worked hard to fund..... they will be declined or cancelled so that you only make hourly pay. Not the best business strategy in my opinion cause the company makes money on fundings too, but what do I know.

    Continue reading
    17 people found this review helpful

    loanDepot Response

    loanDepot

    Thank you for sharing this feedback. We will share this with our management team. If you would like to talk with someone about your concerns, we encourage you to email us at wecare@loandepot.com so that we can help get the conversation started.

  7. 3.0
    Former Employee, more than 1 year

    Starts off promising, ends up disappointing

    Nov 2, 2021 - Mortgage Loan Officer 
    Recommend
    CEO Approval
    Business Outlook

    Pros

    Great sales and SAFE training, proprietary software that gives you all the tools you need, motivational trainers and managers, decent commission but only if your loans fund and not if you’re on a prime team. Opportunities to move into other positions. Overall a good place to START your MLO career. Get licensed, get some knowledge, and get out.

    Cons

    SLOW and INCOMPETENT underwriting and processing time, I’m talking 4+ months, and you will be punished for processing delays that have nothing to do with you, processors do not communicate with you or the borrower and it seems to be a revolving door. They basically ask you to do the job of the processor and the underwriter, which is absolutely ridiculous for a base minimum wage hourly salary. You are supposed to be provided a regular flow of quality leads, but these seems to be reserved for the same 5 people in the company. You’ll have days where someone on your team will have 10 leads a day and you’ll have 1, and the only solution you are given is “stay green and take more leads”, but you could be “green” for 12 hours and only get 1 call, then they will say that it is your fault. If you take any sort of vacation over a week you will be dropped down in tiering, and after that good luck getting back because the phone literally will not ring. If you are on a prime lending team you only get paid a flat commission that is the same for each loan, while core teams get paid thousands more for the exact same loan. It’s an absolute scandal. If you get put on a prime team, quit and go somewhere else. The phone will not ring and you will get paid slave wages compared to the person sitting right next to you doing the exact same thing.

    Continue reading
    2 people found this review helpful

    loanDepot Response

    loanDepot

    Thank you for sharing your feedback regarding your time as a member of Team loanDepot. We will share this review with our management team. If you would like to talk with someone further, we'd be happy to assist. Please email us at wecare@loandepot.com to get started.

  8. 5.0
    Current Employee, more than 1 year

    Work Hard - Get Rewarded

    May 3, 2021 - Closer in Scottsdale, AZ
    Recommend
    CEO Approval
    Business Outlook

    Pros

    A lot of career advancement opportunities, team work ethic, no micromanaging, positive work culture and company culture. Working for this company has truly been life changing for me. We are rewarded generously for our hard work. That's what I love about this company.. your hard work does not go unnoticed, and there is so much opportunity with the major growth of the company. The work culture is great, in comparison to the banking industry, it is so much more relaxed. No one takes themselves too seriously, leaders all the way up the chain are willing to be involved and invested in their employees... they treat you like a person, not just a number. I could go on, but I absolutely love working for this company. By far the best company I have ever worked for.

    Cons

    With current market it can get very busy and at times feel overwhelming- but you have a team to support you! Maternity leave is not 100% paid, and medical benefits are expensive (for families) and coverage is mediocre.

    Continue reading
    1 person found this review helpful

    loanDepot Response

    loanDepot

    Thank you for sharing this valuable feedback! We will share this review with our management team. If you would like to discuss this further, please email us at wecare@loanDepot.com.

  9. 5.0
    Current Employee, more than 1 year

    Best Career Change EVER!!!

    Sep 21, 2021 - Licensed Loan Officer (LLO) in Scottsdale, AZ
    Recommend
    CEO Approval
    Business Outlook

    Pros

    This career has the potential to change your life IF you are willing to put in the effort and time. I left a comfortable job making a decent living but now I have the ability to provide for my family like never before and ever think about retiring YEARS ahead of my original plan.

    Cons

    You have to work harder ever before, it is long hours if you want to exceed your own goal and are a go getter like myself. But when you work hard you also play hard so it's all good...

    Continue reading
    Be the first to find this review helpful

    loanDepot Response

    loanDepot

    Thank you for taking the time to share this review about loanDepot. We appreciate hearing from you!

  10. 5.0
    Current Employee, less than 1 year

    A Total Blessing!

    Sep 21, 2021 - Loan Officer in Scottsdale, AZ
    Recommend
    CEO Approval
    Business Outlook

    Pros

    The ACES program really paves the way to success as a loan officer! The pay plan is amazing, the managers are so helpful and hardworking, the leadership from our CEO down to our VP’s & Directors are inspiring and give you every thing you need to succeed here! They best thing I have ever done was leave the mortgage company I was at and hire on to loanDepot’s ACES program! I never been more proud to work for any other business before! It seriously changed my life and I am forever grateful!

    Cons

    Hours can be long because work is addicting where you just want to keep going and do better and better!

    Continue reading
    Be the first to find this review helpful

    loanDepot Response

    loanDepot

    We are so happy to hear that your experience with loanDepot has been so positive. Thank you for your review!

Viewing 21 - 30 of 1,507 Reviews

Popular Careers with loanDepot Job Seekers

JobsSalariesInterviews

Work at loanDepot? Share Your Experiences

or